“Economics of Good and Evil: The Quest for Economic Meaning from Gilgamesh to Wall Street” is the bestseller of Czech economist Tomas Sedlacek. Sedlacek is also the Chief Macroeconomic Strategist at CSOB (Cekoslovenska obchodni banka), a former member of the National Economic Council of the Czech Republic, and an economic advisor to former Czech President Václav Havel. This book is a modified version of Sedlacek’s thesis which he submitted to the Faculty of Social Sciences of the Charles University in Prague, though the thesis was rejected due to “questionable scientific value”. In 2009, the book received the Wald Press Award, and in 2012 it won the "Deutscher Wirtschaftsbuchpreis" (2012 Frankfurt Book Fair Award) for the best economic title …show more content…
In his book, Sedláček derides the single-minded view of economics as a value-free mathematical science. He describes economics as a cultural and civil phenomenon, closely tied with myth, religion, philosophy, the arts, and anthropology – in his view economics should not concern only abstract mathematical modeling, but also the norms and values of society. In other words, Sedlacek focuses less on the mathematical methods and theories of economics, but rather more on its relation to several seemingly unrelated works and topics. Sedlacek treats economics less as a mathematical science regarding finance but more as a philosophical notion ingrained in every philosophy and religion since the beginning of civilization. Additionally, the book explores some of the fundamental and provocative questions of the present time: "Is growth the only answer? Are we addicted to desire? Does it pay to be …show more content…
For example, Sedlacek delivers a nice illustration of the economic relevance of the stories in the Old Testament, such as the grain storage program propagated by Joseph to prevent famine in Egypt - an early example of economic stabilization policy – and the laws religiously mandated to prevent the concentration of economic wealth and the resulting social inequality. Another example he provides is the link between Descartes’ rational philosophy and the rational/mathematical method of economics, using the rational man (homo economicus) account to further his claim. In the second part of the book, Sedlacek investigates the myths and themes in economics, such as greed, “continuous economic growth or economics of enough”, Adam Smith’s “invisible hand”, homo economicus, et cetera, and gives his opinion on these matters. In regards to homo economicus – for example – Sedlacek determines that the rational self-interest claim of Robert Nelson, as well as John Maynard Keynes’ notion of “irrational animal spirits” (described as spontaneous impulses to act not guided by rational deliberations) are both needed in human beings in order to justify economic